Real Estate, Sales / Business Development
Real Estate Agent
Overview
A real estate agent helps clients buy, sell, and rent properties. They must be knowledgeable about the real estate market and laws, as well as be skilled at negotiating and communicating with clients.
The main responsibilities of a real estate agent include identifying potential properties or clients, marketing properties for sale or rent, conducting property viewings, negotiating contracts and prices, coordinating inspections and appraisals, and ensuring that all legal and financial requirements are met. Real Estate Agents must also maintain accurate records of all transactions and interactions with clients.
Common tasks
| Task | Related trait(s) |
|---|---|
| Prospecting for clients and marketing properties | Empathy Analytical thinking Conscientiousness |
| Conducting property showings | Calmness Pleasantness and fairness Social Boldness Empathy |
| Provide accurate information about the property and the surrounding area | Conscientiousness |
| Negotiating contracts and pricing | Calmness Pleasantness and fairness Social Boldness |
| Coordinating property inspections and appraisals and determine pricing | Conscientiousness |
| Provide guidance and support throughout the transaction process | Conscientiousness Empathy |
| Keeping up-to-date with developments in the field | Conscientiousness |
| Complying with law and regulations | Group compliance |
| Maintaining records of transactions and client interactions | Conscientiousness |
| Networking within the real estate industry to identify opportunities | Social Boldness Empathy |
Soft skills measured by TraitForward
| Trait | No of Questions | Cronbach’s alpha (α) | |
|---|---|---|---|
| Conscientiousness | 7 | 0.73 | |
| Do they have a desirable work ethic? | |||
| Calmness | 7 | 0.80 | |
| Are they calm? Do they respect others? | |||
| Pleasantness and fairness | 7 | 0.75 | |
| Are they honest and fair? | |||
| Social Boldness | 5 | 0.76 | |
| Do they feel comfortable approaching others and taking charge in order to accomplish their tasks? | |||
| Empathy | 7 | 0.77 | |
| Do they understand what makes people tick? | |||
| Activity level | 6 | 0.72 | |
| Are they active people, do they feel comfortable being on the go? | |||
| Analytical thinking | 5 | 0.76 | |
| Do they look at the facts before they make a decision? | |||
| Helping Others | 6 | 0.75 | |
| Do they like helping others? | |||
| Positive group practices | 9 | 0.72 | |
| Do they like being included in a group? | |||
| Group compliance | 9 | 0.74 | |
| Do they follow rules? | |||
Did you Know?
Source: US Department of Labor – Bureau of Labor Statistics
Median wage:
$48,340 / per year
$23 / hour
The median annual wage for this profession is $48,340. Nonetheless several professionals may not be paid in that rate. A relatively low salary the 10th percentile of the annual wage is $28,270, whilst a relatively high salary, the 90th percentile of the annual wage is $102,170.
Expected employment growth:
Number (in thousands in 2021): 438.9
Number (in thousands in 2031): 462
Employment percent change: 5.3
Entry Education level:
To become a real estate agent, one typically needs to complete pre-licensing education, pass a state real estate exam, and obtain a license to practice. Real Estate Agents must have excellent communication, negotiation, and interpersonal skills to build relationships with clients and close sales. They must also have strong organizational and time-management skills to manage their schedule and meet client needs. Finally, Real Estate Agents must be self-motivated, persistent, and able to work independently while representing the brokerage firm or themselves in a professional manner.
Find out the psychometric properties for the Real Estate Agent Traitforward questionnaire